The New Year rings in two traditional lists. “Resolutions”entail too much work for many. On the other hand, “predictions”often prove entertaining twice, once upon the original reading andagain 12 months later as the author eats humble pie. No sooner thanthe ball falls in Times Square than do budding Nostradamuses risefrom the shadows of Auld Lang Syne and begin opining on theimmediate future of their chosen fields.
Thus do I fearlessly embark on this list of three Sure-Fire 401kPredictions for 2012:
1) By the end of the first quarter, we’ll havetwo competing regulatory versions of the Fiduciary Standard (bothof which will compete with a third legal version of “fiduciary”).The SEC will soon pronounce a Fiduciary Standard representingneither a true meaning of fiduciary nor a true standardization.Nearly all will complain. Around the same time, the Department ofLabor will reissue its new Fiduciary Rule, which will satisfy mostsave for the most conflicted service providers and the strictestadherents of fiduciary law. Speaking of law, neither regulator willhonor or recognize eight centuries of tradition and trust law andboth will continue to permit what trust law would normally declarea “prohibited self-dealing” transaction.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Christopher Carosa
Chris Carosa has been writing a weekly article and monthly column for BenefitsPRO online and BenefitsPRO Magazine since 2011 and is a nationally recognized award-winning writer, researcher and speaker. He’s written seven books, including From Cradle to Retire: The Child IRA; Hey! What’s My Number? – How to Increase the Odds You Will Retire in Comfort; A Pizza The Action: Everything I Ever Learned About Business I Learned By Working in a Pizza Stand at the Erie County Fair; and the widely acclaimed 401(k) Fiduciary Solutions. Carosa is also Chief Contributing Editor of the authoritative trade journal FiduciaryNews.com and publisher of the Mendon-Honeoye Falls-Lima Sentinel, a weekly community newspaper he founded in 1989. Currently serving as President of the National Society of Newspaper Columnists and with more than 1,000 articles published in various publications, he appears regularly in the national media. A “parallel” entrepreneur, he actively runs a handful of businesses, including a small boutique investment adviser, providing hands-on experience for his writing. A trained astrophysicist, he also holds an MBA and has been designated a Certified Trust and Financial Advisor. Share your thoughts and story ideas with him through Facebook (https://www.facebook.com/christophercarosa/)and Twitter (https://twitter.com/ChrisCarosa).
